Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 94,569	$ 264,545
Restricted cash	500	500
Investment securities	1,179,555	1,089,524
Prepaid expenses and other current assets	16,431	20,819
Total current assets	1,291,055	1,375,388
Property and equipment, net	12,628	12,068
Operating lease right-of-use assets	42,694	43,507
Restricted cash, net of current portion	800	800
Other assets	14,150	2,829
Total assets	1,361,327	1,434,592
Current liabilities:
Accounts payable and accrued expenses	31,616	21,469
Accrued compensation and related expenses	16,606	28,887
Deferred revenue	2,206	2,176
Operating lease liabilities	6,883	7,152
Total current liabilities	57,311	59,684
Operating lease liabilities, non-current	43,936	44,570
Deferred revenue, non-current	4,313	4,704
Other non-current liabilities	1,767	829
Total liabilities	107,327	109,787
Commitments and contingencies (Note 7)
Stockholders’ equity:
Preferred stock, $0.001 par; 10,000 shares authorized; no shares issued or outstanding at March 31, 2025 or December 31, 2024	0	0
Common stock and paid-in capital, $0.001 par; 200,000 shares authorized; 93,525 shares issued and outstanding at March 31, 2025; 92,926 shares issued and outstanding at December 31, 2024	2,300,882	2,275,952
Accumulated other comprehensive income	2,002	963
Accumulated deficit	(1,048,884)	(952,110)
Total stockholders’ equity	1,254,000	1,324,805
Total liabilities and stockholders’ equity	$ 1,361,327	$ 1,434,592